RITE AID CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002 (In thousands, except per share amounts) During fiscal 2004 the Company repurchased the following securities: Principal Amount (Gain)/ loss Amount Paid Repurchased Debt Repurchased (865) (4,314) (1,981) (715) (1,895) 1,888 $(7,882) $ 36,853 120,216 13,144 4,219 7,975 11,275 37,848 124,926 15,227 6.0% fixed rate senior notes due 2005 7.125% notes due 2007... 6.875% senior debentures due 2013.. 5,000 10,000 10,000 7.7% notes due 2027..... 6.875% fixed rate senior notes due 2028 12.5% senior secured notes due 2006 $193,682 $203,001 Total

SWFT Comprehensive Vol 2020
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Chapter20: Corporations: Distributions In Complete Liquidation And An Overview Of Reorganizations
Section: Chapter Questions
Problem 1BCRQ
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Note 10 reports that Rite Aid engaged in some open-market debt transactions during year ended February 28, 2004.
Prepare the journal entry required to record the repurchase of these notes.
RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002
(In thousands, except per share amounts)
During fiscal 2004 the Company repurchased the following securities:
Principal
Amount
(Gain)/
loss
Amount
Paid
Repurchased
Debt Repurchased
(865)
(4,314)
(1,981)
(715)
(1,895)
1,888
$(7,882)
$ 36,853
120,216
13,144
4,219
7,975
11,275
37,848
124,926
15,227
6.0% fixed rate senior notes due 2005
7.125% notes due 2007...
6.875% senior debentures due 2013..
5,000
10,000
10,000
7.7% notes due 2027.....
6.875% fixed rate senior notes due 2028
12.5% senior secured notes due 2006
$193,682
$203,001
Total
Transcribed Image Text:RITE AID CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002 (In thousands, except per share amounts) During fiscal 2004 the Company repurchased the following securities: Principal Amount (Gain)/ loss Amount Paid Repurchased Debt Repurchased (865) (4,314) (1,981) (715) (1,895) 1,888 $(7,882) $ 36,853 120,216 13,144 4,219 7,975 11,275 37,848 124,926 15,227 6.0% fixed rate senior notes due 2005 7.125% notes due 2007... 6.875% senior debentures due 2013.. 5,000 10,000 10,000 7.7% notes due 2027..... 6.875% fixed rate senior notes due 2028 12.5% senior secured notes due 2006 $193,682 $203,001 Total
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